ITR Filing is Mandatory Income tax return (ITR) filing is mandatory in several situations in India. Here are ten common scenarios where individuals are required to file their ITR: ITR filing is mandatory in 10 situations: 1. Income above Basic Exemption Limit: If your total income before claiming any deductions exceeds the basic exemption… Read More »
Income Tax filing The requirement to file an ITR depends on various factors, including the individual’s income level, residential status, and specific conditions outlined in the Income Tax Act, 1961. 1.Income Threshold: Individuals with a total income exceeding the prescribed threshold are generally require to file an ITR. The income threshold varies based on… Read More »
When Should We File Income Tax Returns (ITR)? Filing Income Tax Returns (ITR) is an essential responsibility for individuals and businesses to ensure compliance with tax laws and avoid penalties. Understanding the right time to file your ITR can help you manage your finances better and make the process smoother. Here’s a brief guide on… Read More »
